Quotex is making waves across Indian social media—promising “easy returns” and “instant withdrawals” in forex trading. But how much of the hype holds up? If you’re curious about trying this app, it’s crucial to check Quotex review, how the platform works, whether it’s legal, and what risks you’re taking as an Indian trader.
This guide gives you a clear, honest look at what Quotex really offers Indian users.
Quotex App Review
Quotex is an offshore, web-based binary options trading platform that lets people speculate on currency movements, stocks, crypto, and more. Its main draws in India are:
- Simple registration (just email/phone), no lengthy documents needed to start
- Very low minimum deposit (as little as ₹100/about $1)
- Visual, beginner-friendly interface with quick, timed trades (as short as 1 minute)
- Demo mode to practice with fake money, appealing to new traders
- Wide range of markets: forex, crypto, stocks, commodities—all in one app
For many beginners, Quotex seems like an accessible, low-barrier way to “try trading” and see quick results.
Is Quotex SEBI Registered?
RBI has released the list of banned forex trading apps in India, which includes the name of Quotex. This already gives a alert signal.
Along with that:
- Quotex is not approved or licensed by SEBI or the RBI. Under Indian law, online forex and options trading is only legal through brokers officially registered with SEBI—and only for INR-based pairs.
- Binary options trading itself is banned on Indian exchanges. RBI and SEBI have both issued repeated public warnings about using offshore binary trading apps.
Is Quotex Safe?
Although not regulated with either of the regulatory body is itself a hint of risk, apart from this there are other factors that you must consider before putting your hard-earned money in the app.
- No legal protection: If you lose money, can’t withdraw, or suspect fraud, there is no Indian authority to help you.
- Bank blocks or KYC issues: RBI and many Indian banks actively block or investigate payments to offshore “options/casino/forex” sites. If this happens, your funds may be frozen or accounts closed.
- No real recourse: If the government further cracks down, your account/funds may be lost with no way to appeal.
Trading on Quotex from India is against the rules. Users do it at their own risk and may face unexpected legal or banking problems.
Quotex Withdrawal Problem
Many users who are using the platform have reported following issues related to fund withdrawal:
- Withdrawals: Many users report quick payouts, but others cite delays, especially if they haven’t completed KYC or if payment details don’t match.
- Payment risks: If the bank or payment processor detects overseas binary trading, they may halt or reverse transactions, sometimes with account restrictions.
Always use your own, real name; complete all KYC steps; and take screenshots of all transfers. Never send money to third parties claiming to “speed up” payouts.
How to Protect Yourself?
- Never trust anyone—“agent,” “signal provider,” or “account manager”—asking for money, passwords, or personal details on WhatsApp/Telegram/social media.
- If you ever use such platform, save records/screenshots of all activity—don’t rely on support to retrieve them later.
- Watch out for “success stories” or “withdrawal proofs” posted online—they can be faked or staged.
- Be alert: If access or payment suddenly stops working, don’t chase losses by using new “tricks” or bypasses—this is how many fall deeper into scams.
How to Report Forex Trading Platform in India?
If you get trapped in any of the forex trading scams in India, report it immediately to prevent further damage by following steps below:
- Collect all evidence (screenshots, emails, transaction history)
- File a cybercrime complaint
- Write to SEBI via email.
- Notify your bank immediately to flag transactions
- If international payments were involved, report to RBI
- Spread awareness on forums or blogs to warn others
Need help? Register with us and we will guide you with the process of how to report it on respective platform using the right protocol and further help in forex trading scam recovery.
Conclusion
Quotex feels easy, fast, and low-cost—and that’s the danger. For Indian traders, it’s not a legal, protected option.
There are real stories of both quick wins and hard losses, plus scam attempts everywhere you look.
With SEBI and RBI explicitly warning against binary options and unlicensed brokers, the safest move is to avoid offshore trading apps entirely.
If you still want to invest, stay tiny, stay cautious, always verify everything twice, and walk away at the first sign of trouble. For real protection and peace of mind, stick to SEBI-approved Indian platforms—don’t risk your hard-earned money chasing quick wins on a risky offshore site.
Trade safe, stay informed, and never let hype outpace your caution—especially in the world of online trading apps.
